Golden Lines[MedAlgo]

## Overview
This custom TradingView indicator applies Fibonacci retracement and extension levels to logarithmic price scales, providing more accurate analysis for assets that exhibit exponential growth patterns. By utilizing logarithmic axes instead of linear ones, the indicator offers more relevant support and resistance zones for volatile assets like cryptocurrencies, high-growth stocks, and commodities that frequently move in percentage-based increments rather than absolute price movements.

## Key Features
- **Logarithmic Fibonacci Placement**: Automatically calculates Fibonacci levels based on logarithmic price distribution rather than linear values
- **Dynamic Level Adjustment**: Adjusts Fibonacci levels in real-time as prices move through logarithmic space
- **Custom Ratio Support**: Includes both traditional Fibonacci ratios (0.236, 0.382, 0.5, 0.618, 0.786, 1.0, 1.618, 2.618) and extended logarithmic-optimized ratios
- **Multi-timeframe Analysis**: Works across all timeframes while maintaining logarithmic consistency
- **Visual Alerts**: Color-coded zones show strength of price reactions at critical Fibonacci boundaries
- **Historical Backtesting**: Highlights how previous price action respected logarithmic Fibonacci levels

## How to Use
1. **IMPORTANT**: Ensure logarithmic scale is activated on your chart by clicking the "Log" button (marked as "L") in the bottom right corner of your chart
2. Add the indicator to your chart from the indicator menu
3. After adding the indicator, you'll be prompted to select:
- A high point (click on a significant peak)
- A low point (click on a significant trough)
4. The indicator will automatically draw all Fibonacci levels based on these two points
5. Lines will be drawn automatically on the chart, calculating the proper logarithmic Fibonacci ratios
6. No additional configuration is needed - the indicator automatically adapts to the logarithmic scaling

## Technical Explanation
The indicator transforms price data using natural logarithms before applying Fibonacci calculations. This approach acknowledges that percentage-based price movements appear as equal distances on logarithmic charts, making Fibonacci levels more relevant for identifying psychological and technical barriers in markets that move exponentially.

Unlike standard Fibonacci tools, this indicator:
1. Converts price to logarithmic values
2. Calculates Fibonacci sequences in log space
3. Maps these levels back to price chart display
4. Tracks reaction strength at each level

## Usage Guide
1. Select high and low points for your Fibonacci analysis
2. The indicator automatically draws the levels on logarithmic scale
3. Monitor price action as it approaches key logarithmic Fibonacci levels
4. Use color intensity to gauge the historical significance of each level
5. Set alerts for when price approaches logarithmic Fibonacci zones

## Interpretation
- **Strong Bounces**: When price strongly reacts at a logarithmic Fibonacci level, it often indicates a significant psychological barrier in percentage terms
- **Minimal Reaction**: Levels that show little price reaction may indicate logarithmic zones with less market interest
- **Confluence Areas**: Where multiple logarithmic Fibonacci levels converge from different timeframes, expect stronger support/resistance
- **Breakout Confirmation**: Price decisively moving through a significant logarithmic Fibonacci level often signals a strong trend continuation

## Best Applications
This indicator is particularly effective for:
- Cryptocurrency analysis
- High-growth technology stocks
- Commodities during trending markets
- Any asset that historically moves in percentage terms rather than absolute price

## Troubleshooting
- If Fibonacci levels appear distorted, verify that logarithmic scale is activated (check for highlighted "L" button)
- For best results, select major swing highs and lows that represent significant market turning points
- The indicator may need recalibration during extreme volatility events

Disclaimer
This indicator is provided for informational purposes only and should not be considered financial advice. Past performance is not indicative of future results. The signals generated are based on historical patterns and technical analysis, which may not always predict future market movements accurately. Trading involves substantial risk of loss. Always use proper risk management and consider using this indicator as part of a comprehensive trading strategy rather than as a standalone system. Test thoroughly before using with real capital.